Today, Züblin Immobilière France announced its consolidated sales for the nine first months of the 2012/2013 financial year (04/01/2012 to 31/12/2012). As expected, consolidated sales came to €11.8 million.
The financial information presented in this press release is unaudited and has not yet been presented to the Board of Directors.
Pierre Essig, CEO of Züblin Immobilière France, declared that "The Group's 9 first months activity reflects the strategic and ambitious decision made by Züblin Immobilière France to perform important high-end renovation of 50% of its real estate portfolio. These significant renovations resulting in office surface increases, investment properties embellishments, substantial energy consumptions decreases and total reformatting of office spaces in order to meet tenants future needs, allow to reach a level of performances on par with the one of the most beautiful brand new office buildings. Of course, those investments have a significant impact on sales in year 2012 and in the coming 2013 quarters. In the long term, the Group thus expects to generate higher values for its shareholders and greater attractiveness for its current and potential tenants. Relying on a strong 100% occupancy rate on the portion of its portfolio in operation with secured long term leases, Züblin Immobilière France is focused on ensuring timely and high-quality construction work for the portion of its portfolio undergoing renovation, as well as on re-letting those spaces."
Sales by quarter